SBP reserves jump by $1.18bn

KARACHI: Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $1.18 billion during the week ended on April 24, ARY News reported.

According to the central bank’s weekly report, its reserves increased by $1.18 billion to $12.7 billion during the last week.

SBP said that commercial banks’ holdings stood at $6.39 billion while the country’s net reserves were recorded at 18.46 billion dollars.

Read More: SBP reserves fall by $85mn

Earlier on April 23, foreign exchange reserves held by the State Bank of Pakistan (SBP) had decreased by $85 million to $10.8bn during the week ended on April 17.

According to the central bank’s weekly report, its reserves had been dropped to 10.8 billion dollars. The central bank had attributed the decrease to government external debt payments of $145 million.

It had said commercial banks’ holdings stood at $7.41 billion. The country’s net reserves were recorded at 17.3 billion dollars, SBP had added.